Betting on Golf
Have you ever wondered how to betting on golf? Say no more, because we will walk through this!
Golf makes around $5 billion in the US and, as a result, is one of the most popular sports betting to bet on outside of the “big 4”. You can read on to learn how to bet in this gambling type, including the process of placing your first wager, types of golf, and the strategies to help you win more!
The most common betting on golf is the outright winner (we will explain you more later). It is the hardest market to win given the average field sizes can involve 160 players. However, as the golf odds are so high, it is the most rewarding financially you will win.
Well, imagine a golf tournament where Rory Mcllroy is the favorite to win prizes at +750. It is worth remembering that, for a favorite, these might seem like big odds, however for golf, this price is relatively small.
Let’s take an example if we bet MYR 100 on Mcllroy to win at odds of +750 and for the purpose of this bet. Assume that if he won the game, and our returns will look like this:
MYR 100 at +750 = MYR 850 total return – MYR 100 Stake = MYR 750 profit
With the American betting odds (or known as Money Line), the positive numbers will highlight how much you will win if you place a MYR 100 bet. If the odds were negative, then this will be the amount that you need to bet to make a MYR 100 profit. In the outright winner market, it is very rare that any player will have negative odds.
However, there are markets where this will be more common. Moreover, the only result where we win on the bet is if Mcllroy wins the tournament outright. Any other result, then we will lose. That is why this market is hard to call.
The excitement of betting on golf is that you are able to choose from a wide range of markets. Here are some types of golf bets that we have compiled for your knowledge.
The outright winner is the largest and popular market in betting on golf to bet on. This is where you need to choose the overall winner of the entire tournament and often involves a big field of +160 players. Unlike most sports betting, the favorite can go off at extremely high odds and it is not uncommon for prices to start from +1000 and work up from that.
All betting sites and online Sports Betting Malaysia will offer this tournament outright market and it is worth remembering that you selection has to win for you to get paid. Due to the high odds in the game, most players spread smaller bets over multiple selections as it gives them a higher possibility of winning.
Next type of betting on golf is place bets. These are where you can bet on a golfer to win within a specific number of positions. Most place bets commonly will include the top 5 spots, however, you can get alternative places within the prop bet section, where you can get fewer or more places to be paid.
Furthermore, this market is a lot more easier to call and you are likely to get more bang for your buck here. The golfer often makes late runs to charge up the leaderboards meaning that place bets will stay live longer than the outright winner market.
Each bet in betting on golf is split into two. You will essentially bet on the golfer to win and to place, and you get paid if one or both results show.
It is important to be aware of the outright winner odds, as this will determine how the bet is paid. In addition, the place bet will be a fraction of the starting price, commonly around 1/4, and pay the top 5 places.
This might differ from one sportsbook to another, so do a little research for the sites that offer the best percentage cut and the highest number of places will be paid.
With this market of betting on golf, you will be simply wagering on if individual players will make the cut or not. In a regular season event, the tournament will be played over 4 days and after 2 days a cut is made where the bottom half of the field is removed (or cut).
Your bet will need the golfer to make the weekend, importantly, and if they go do it will pay out. In addition, the odds are much lower than the overall winner as this is much easier to get. The market will work great by combining the multiple golfers to make a parlay bet which means you are not waiting 4 days for your bet to settle.
The next market in betting on golf is matchups. These are relatively new to golf betting but make a lot of drama that is totally removed from choosing the outright winner. For this one, the sportsbook will pick 2, 3, or even 4 golfers and put them head to head. Then, you need to pick the player with the lowest score from the group to win the matchup.
This is one known as the flexible betting markets in that sportsbooks can not only change the numbers of players, however, the number of rounds. For instance, they will have matchups that run for a single round or for the whole tournament. Again, this is another market that stands itself well to parlay betting.
When it comes to betting on golf, the prop bets include “everything else”. You can argue that some of the markets above already are golf prop bets. We have listed some of the others below:
With parlay betting, you can combine multiple selections to make a single bet on the back of these. For instance, you may decide to pick the winner of the PGA Tour, DP World Tour, and LPGA Tour for the week, with 3 picks involved to make one bet.
However, the market is not as popular in betting on golf as it is in other sports, mainly because the odds of betting on the outright winner market are so high, and choosing multiple winners across multiple events is extremely tough.
As we already know, golf is a multi-national sport and played by players from around the world to participate on all tours. This market of betting on golf allows players to choose the highest-ranked golfer based on the nationality for the tournament.
But again, this massively reduces the size of the field that you need to choose from, which lowers the golf odds for the winner, however, makes it much easier to win.
Round totals betting on golf is based on the score that a player will choose. The markets for this bet will have either 2 or 3 options. The 2-way bet will be a line that chooses the over or under. For instance, the score may be set at 71.5 strokes for that round. Then, the 3-way market will include brackets. This may be over 72, inclusive of 70-72, and under 70 strokes.
Before each round starts, the sportsbook will create a market for the player to be leading the event when the round has finished. Then, the player doesn’t need to go on to win the tournament outright.
They will simply need to be ahead once the round is finished. This market betting on golf is most popular after the first two rounds as the field will start to bunch over the weekend making it easier to call for rounds three and four.
Like all sports betting, to be a winner at betting on golf, you need to have a good strategy in place. Below, we have listed areas that you can attack and implement in or to become more lucky with your bets. These tips will cover the basics of golf betting strategy and how to make bets that work for you.
One of the best betting on golf strategy is strokes gained. This remains as the easiest way to engage how a player is performing. Well, strokes gained is a statistical metric used in golf to calculate a player’s performance relative to the field.
It gives insight into a golfer’s strengths and weaknesses by comparing their performance on specific shots or aspects of the game to the average performance of the market.
The concept of strokes gained change around the idea that not all shots are equal in terms of difficult and potential scoring outcomes. By analyzing a golfer’s performance in relation to the market average, the strokes gained quantifies the impact of every shot on a player’s score.
Furthermore, a positive stroke gained value shows that a golfer is performing better than the field average on that certain shot or aspect of the game, while negative value suggests the opposite.
In betting on golf strategy, form can be streaky. It is not unheard to see players miss a cut one week and then go on to win a week later. You will need to take form into account, however, it must be applied correctly when doing so.
We advise that you link the current form of a player to the Strokes Gained metric, where you look at areas where they have been weak and see if they will be able to improve to get a better result. For most golfers, it is a case that one area of the game is letting them down, rather than the whole game.
Weather can be a big factor in betting on golf and particularly wind and rain. Most golfers commonly don’t enjoy playing in severe weather as it is more of an effort to not only control your golf ball, however, just generally stay dry and in a more positive frame of mind.
The professional golf circuit has hundreds of players and it is nearly impossible to keep track and data on each. A stable can be used to learn and recognize the pros and cons of choosing from a much smaller pool, however, still see which players are likely going to do well that week.
By learning what features best suit around 15 – 20 players, you are able to fastly narrow down the field and make informative picks. In addition, you can use strokes gained stats for this, however, you can also pick players with different attributes that will suit different courses and tournaments.
Now, you have a great idea about betting on golf. You can choose the market you prefer before playing. After that, you can follow some useful strategies that we have mentioned above, such as Strokes Gained, Current Form, Weather, and Create Stable. You will not only be lucky, but also be a smart player!
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